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Global oil demand will rebound unless governments accelerate clean-energy transition, IEA says

( March 17, 2021, 10:29 GMT | Official Statement) -- MLex Summary: Global oil markets have seen a rebound following the major shock provoked by the Covid-19 pandemic, but they still face a high degree of uncertainty, the International Energy Agency said today. Without regulatory intervention, demand is likely to keep rising, the IEA said. “The Covid-19 crisis caused a historic decline in global oil demand — but not necessarily a lasting one. Achieving an orderly transition away from oil is essential to meet climate goals, but it will require major policy changes from governments as well as accelerated behavioral changes. Without that, global oil demand is set to increase every year between now and 2026,” said IEA chief Fatih Birol.Statement follows. ...

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